Daily Stock Ideas – May 6, 2021
Today’s 5 Stock Ideas
- Peloton Interactive (PTON) – To report Q3 earnings after the close Thursday. Shares fell more than 14% on Wednesday following news of a Consumer Product Safety Commission recall of the company’s Tread and Tread+ treadmill product. The recall is expected to impact about 126,000 units. The CPSC warned in mid April it was investigating the treadmill product following the death of a child. The new information on Wednesday confirmed the CPSC would require a recall, the number of incidents related (70) and the size of the recall. While B Of A downgraded Peloton shares to Neutral and a KeyBanc analyst called the news a “clear negative,” a Baird analyst told investors to buy the dip in the stock.
- DraftKings (DKNG) – Will report Q1 earnings before market open on Friday. Shares of DraftKings were down 24% since the highs set in March.
- Rotor Acquisition (ROT) – CEO of the company’s special purpose acquisition corporation (SPAC) merger partner, Sarcos Robtoics, Ben Wolff, will appear on Benzinga’s “SPACs Attack” YouTube show Thursday at 11:15 a.m. EDT.
- Hyliion (HYLN) – Shares could be a sympathy play in the electric vehicle space amid Thursday morning news Nikola Motors (NKLA) signed a letter of intent for 100 Nikola trucks with Total Transportation Services. Nikola shares were up about 6% ahead of the opening bell.
- WISeKey (WKEY) – The non-fungible token (NFT) space could see interest Thursday following news out of Dolphin Entertainment (DLPN) and Hall Of Fame Resort & Entertainment (HOFV). Dolphin and Hall Of Fame announced pro football hall of famer, Tim Brown, will launch his first NFT via a partnership between the two companies and H2H. WISeKey is a confirmed NFT play. Benzinga exclusively reported on the news out of Dolphin and Hall Of Fame Thursday.